Asia, Africa & Middle East Committee
Africa: Land of Immense Potential
Our "Understanding Africa" seminar on October 23 was a great success. We were honoured to host visiting Fellows from Sahar Albazar, Celenhle Dlamini, Eric Kakoole and Rumbidzai Sithole, who unpacked the continent's vibrant economic potential, from its abundant resources to the youthful population and rising foreign direct investment (FOi). With a population of 1.4 billion, Africa is swiftly emerging as a hub of diverse investment opportunities, particularly in nations like Egypt, Nigeria, South Africa, Zimbabwe, Ethiopia and Kenya.
The continent boasts a highly educated and dynamic workforce that is driving innovation and entrepreneurship. Local multinational companies, dubbed "Lions;'are leading the charge in sectors such as retail, telecommunications, energy, manufacturing and financial services, further accelerating development.
Moreover, transformative partnerships with countries like China are positioning Africa as a critical player in the global economy, enhancing its infrastructure through initiatives like the transcontinental road network. The African Continental FreeTrade Area (ACFTA)t,h e world's largest free trade region, adds even more allure, offering access to over a billion people and a combined GDP of US$3 trillion. Set to more than double by 2050, it presents unprecedented opportunities for businesses looking to enter and expand in the African market.
Special thanks to KC Kwok, AsiaGlobal Fellows Program Director at Asia Global Instit ute of The University of Hong Kong, and Dewan Saiful Alam, Chairman of the Asia, Africa & Middle East Committee, who moderated the seminar.
Tapping Indonesia's Consumer Market
It was a full house for the Asia, Africa & Middle East Committee's meeting on 8 October to learn from Hong Kong Trade Development Council's economists Galvin Chia and Edmund Lo about tapping into Indonesia's consumer market.
Hosted by committee Chairman Dewan Saiful Alam, they said Indonesia is by far the largest e-commerce market in the ASEAN-6 in terms of gross merchandise volume, while the Philippines and Vietnam markets are expected to be the fastest growing.
Online retailing is also booming, with Indonesians ranking online shopping as the fourth most popular activity undertaken on the internet - more popular than directions, email, music or entertainment. Moreover, 39% of online shoppers used a digital wallet to pay, compared to only 9% using a credit card.
Exploring Health Tourism in Japan
Japan is famed for its quality healthcare and products, wh ich makes it interesting t o note that more Japanese clinics are looking t o develop health tourism. Natsue Kishida, Planning Direct or at Odawara Hakone Kenshin Clinic, Japan, and her colleagues, met with China Committee Chairman Felix Lee, who is also Co-CEO of The GBA Healthcare Group, t o discuss health-related products and preferences of Hong Kong and Mainland users and preventive healthcare services.
Compared t o Hong Kong, prices are significant ly lower for similar screenings, and range from a basic body check t o a full-body MRI. Lee recommended t he clinic find a Hong Kong or Mainland part ner who could help market the packages for travellers looking to take advantage of such services wh ile on holiday in Japan.
Hong Kong to Host 24th Kagoshima Conference
Niihara Yoshiko, Director of the International Exchange Bureau of the Kagoshima Prefecture Government, called on the Chamber on 21 October to finalize preparations for the 24th Kagoshima Conference, wh ich will be held in Hong Kong from 7-9 November. The delegation was greeted by CEO Patrick Yeung and Director of PR & Programs Malcolm Ainsworth.
Established in 1980, the conference is held every two years, alternating between Hong Kong and Kagoshima. This year marks the first time it w ill be hosted in Hong Kong since the pandemic. In addition to formal meetings aimed at enhancing trade, tour ism and cultural exchanges, the event will feature a network ing evening where government officials and businesses from both sides can connect and exchange ideas. Members who would like more information about the conference can contact the Chamber.
Europe Committee
EU Elections: Impact on Europe and China Ties
The recent EU elections and their potential to reshape Europe's political landscape and relationship w ith China were the focal points of an enlightening roundtable on 24 September.
Jean-Pierre Cabestan, Emeritus Professor at Hong Kong Baptist Univers ity, discussed how governance shifts and a more fragmented EU could impact foreign pol icy, particularly toward China.
lfiaki Amate, Chairman of The European Chamber of Commerce in Hong Kong, addressed the economic outlook for Germany, the United Kingdom and France amid ongoing geopolitical tensions. He emphasized that the policies of these countries could significantly influence global trade and Sino-EU technological competition, especially as China continues to dominate the electric vehicle sector.
The discussion also touched on the upcoming U.S. elections and referenced former Italian Prime Minister Mario Draghi's recent 400 page report on Europe's competitiveness. The report called for substantial investments to enhance innovation and productivity.
Global Economic and Trade Outlook 2025
Tricia Koh, Commercial Director for Hong Kong, Taiwan and South Korea at Allianz Trade, shared the key findings of the firm's 2025 economic and trade out look survey dur ing a committee meeting on 26 September. The survey, which polled 3,000 global exporters, revealed optimistic expectations for the year ahead.
Koh noted that China and Germany are projected to experience a rebound in export gains aft er a challenging 2023, with China remaining a key supplier for most goods. While 82% of respondents foresee brighter prospects, they identified geopolitics and protectionism, labour shortages, and non-payment as the main factors threatening export activity. Promising opportunities were highlighted in the pharmaceuticals, metals, software and IT services sectors, whereas the outlook for transportation, chemicals, and oil and gas appears less favourable.
Koh was joined by Allianz Trade Business Development Manager Wing Tung Chai and Regional Marketing Manager for Asia Pacific, Alexandre Chau.